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Yesterday (July 10th), Mark Clare, the chief executive of Barratt Developments, said the firm would axe 1,200 jobs from its workforce of 6,700.
He also said that the impending jobs losses in the industry were just part of a wider story, reports the Financial Times.
"It does not take into account the secondary effect on the supply chain, comprising kitchen companies, solicitors, mortgage advisers, estate agents and so on," he said.
Landsbanki analyst Simon Brown claims that downsizing in the industry has already been responsible for the loss of 6,000 jobs.
Halifax also reported that house prices fell by 6.1 per cent last month, compared to the previous year.
According to Bloomberg, UK housebuilder Bovis Homes Group and Redrow are planning to shed 40 per cent of their respective workforces.
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